Tag: MR

Categories
Business Stocks

Why Companies Go Public?

Reading Time: 2 minutes

This is a too big question. But I have thought this thing for quite a while, and want to share my thoughts. A few weeks ago I was watching the “Boss Town” program at China-CBN, the host posed this exact question to the founder of Qiao Xing (Nasdaq: XING), Mr. Wu Ruiling: why do you go to Nasdaq considering the overhead of compliance (Sarbane-Oxly etc.)?

Fair question. Mr. Wu shared one reason: when a company grows to a certain stage, it’s better to have more than one boss (owner): other minority owners can contribute to the development of the company.

I think besides “better corporate governance/management”, there are at least two reasons: 1) To raise the money (capital), 2) To raise the company profile. These two reasons fit well with the recent Chinese IPOs in last Fall: New Oriental (EDU), Home Inns (HMIN), and Mindray (MR). Let’s explain one by one.

Continue reading “Why Companies Go Public?”
Categories
China Stocks

07 First Quarter Review

Reading Time: < 1 minute

The first quarter is behind us. Just like a public company reporting quarterly results and holding conference call, I am going to do a quick review of my little portfolio. This quarter is a quite rollercoaster for me, as it did for many investors. The Jan and Feb started fairly strong and at one time I had more than 10% gain (I used google finance to track my investments). This is until Feb 27. In one day I lost all my 10% gain because of the loss of my Chinese ADRs (HMIN and MR each lost more than 10%).

Continue reading “07 First Quarter Review”
Categories
China Stocks

Color on Mindray Q4 2006 Results

Reading Time: < 1 minute

Well, Xinhua Finance Media Limited XFML IPO nearly broke my heart, kind as I expected. The good thing is WR Hambrecht only allocated me 100 shares, out of 200 shares I indicated to buy.

On a positive note, Mindray reported a good quarter and a good year. Here is the results. Going forward they expect “total net revenues for full year 2007 to be in the range of RMB2,120.0 million to RMB2,150.0 million”, this is about 40% revenue growth over 2006. The international market will be the key growth driver; domestic market is picking up after last year’s anti-corruption campaign.

Interestingly, the market decided to hold a sell off on MR today.

Categories
Saint Louis

Home Inns Mindray New Oriental

Reading Time: < 1 minute

These days you need some faith to hold those relatively new Chinese IPOs. I only have Mindray (MR) at this time, but I have traded HMIN and EDU before. All three stocks dropped a lot from it highs in a week. I just want to summerize my observation after spending 2 days in Shanghai, this is in no ways a comprehensive study.

Home Inns: it faces more competition. I went to Jinjiang Inn on Sunday with a friend, we need to book a room for another friend. It’s fairly easy. Maybe this is not a busy season. But I remember one or two years ago it’s not easy to book a room one day in advance. Also Marriot (the American hotel giant) bought a Chinese economy hotel chain “Xingyu Star” and renamed it as “Wan Jia Wan Hao”. It plans to open 300 hotels in a few years.

Continue reading “Home Inns Mindray New Oriental”
Categories
Stocks

Not a Pretty Day

Reading Time: < 1 minute

I mean the stock market. Dow lost more than 400 points. My brokage account lost about 10% of its value today. The biggest decliners are Home Inns (HMIN) and Mindray (MR); but Crocs (CROX) and Heelys (HLYS) are not helping either 🙁

Now the question is: is this a healthy correction? Or the beginning of (dare I say) bear market? I don’t have the answer. Personally I feel the market needs some sort of correction, especially in China, where the reality did not support the hefty stock prices. But do I think US consumers and business suddenly hit the break on everything? Probablly not. Same thing can be said else where.

Categories
Career China

Mindray MR is Hiring

Reading Time: < 1 minute

Mindray, the leading medical device maker in Shenzhen, is hiring. Here is the link in Chinese. Most are R&D positions. And some campus recruiting events. Interestingly, I noticed they are looking for Spanish, Portuguese, German and Russian speaking sales person, as shown in this ad. From this and previous company’s SEC filings we can see the company still depends European (or South America) for the international growth. As you may know obtaining US regulatory approval for their product is a long process, although everyone knows this is the biggest piece of the pie.

Continue reading “Mindray MR is Hiring”
Categories
Stocks

How Did I Find Growth Stocks

Reading Time: < 1 minute

New Oriental (EDU, based in Beijing): every Chinese student came to US for study knows that, no need to say anymore. 

Home Inns (Rujia, HMIN, based in Shanghai): my friend in my hometown told me about this in summer 2004. He is a small business owner and he thinks that Rujia is clean and economical. He would stay there when he visits Shanghai as long as he does not see his foreign clients. I believe business travallers make up more than 50% of Rujia’s business.

Mindray (MR, based in Shenzhen): found out shortly after its IPO. I always liked medical device makers, both from investment and health/science point of view. The barrier of entry is high: unlike English (or IT) training, you put ad on newspaper, hire some English teacher and find students and a classroom, you are good to go. For medical device, you will need R&D talents (hint: graduates from HUST), good sales and customer support, all of which you can not get overnight. The risk: lawsuits, regulatory procedures.

Continue reading “How Did I Find Growth Stocks”
Categories
Business China

Mindray MR Secondary Offering

Reading Time: < 1 minute

It appears that Mindray started new offering today. I read its SEC filings here. The insiders will sell 9,827,220 shares and the underwriter will have option to buy additional 1,474,083 shares from selling share holders. That alone won’t have dilution effect.

Separately, the company filed S1 form for stock options registration. That will dilute the stocks if option being excercised.

One thing I am not 100% sure is the difference between secondary offering and insider selling after lock up period (usually 180 days after IPO). I think this one belong to “secondary” because it’s not 180 days after its IPO yet (Sept 26, 2006).

(Update 01Feb07) FinanceAsia has more details about this selling.

Categories
China Stocks

Home Inns HMIN Yahoo Message Board

Reading Time: < 1 minute

Yes. It’s up and running now. Here is the link. I don’t know exactly how new IPOs got the message board started. It usually takse many requests, and lots of patience.

Oh, don’t take the discussions (especially the price target) too seriously. Because if you believe it and trade accordingly, you may regret later. That being said, I did see some intelligent analyses on the message boards from time to time. But a lot more emotional rants too. You are warned.

No message board for New Oriental (EDU) yet. The funny thing is that Mindray (MR) board was inherited from Morgan Food (used to have ticker symbol MR), and the board works 50% of the time. No wonder Yahoo stock did not do well lately 🙂

IMG_3978

Categories
China Stocks

Mindray MR Pre-announce Fiscal 2006

Reading Time: < 1 minute

I summerized its year 2005 and 2006 (low end) number here. I noted that the revenue year over year growth slowed a bit (consider first 9 months growth about 41%). This can be attribute to the continuing “anti-corruption” campaign in China hospitals.

                  2005               2006              YoY

Rev (CNY)  1,078,573,000 1,470,000,000 36.29%
    
Income         205,089,000    360,000,000 75.53%
    
Earning (CNY)           2.40                3.73 55.42%

You can read the news here.

Continue reading “Mindray MR Pre-announce Fiscal 2006”